Concerns regarding Chris Kubasik's conduct were reportedly raised by women at L3Harris years prior to his recent removal as CEO. Kubasik was ousted following an independent probe that found he engaged in an inappropriate relationship with an employee. This investigation was conducted by the $54 billion defense contractor's outside law firm and concluded recently. The company announced Kubasik's departure, stating he engaged in "certain conduct... that was not consistent with the values of the Company" as outlined in its code of conduct, though they did not specify the exact nature of the conduct.
This incident is not the first of its kind for Kubasik. In 2012, he was fired from Lockheed Martin, where he was slated to become CEO, due to a similar ethics investigation confirming a "close personal relationship with a subordinate employee." He subsequently joined L3 Corporation in 2015, became CEO in 2018, and then led the merger creating L3Harris, becoming CEO of the combined entity in 2021. Despite the current ousting, Kubasik, through a spokesperson, has denied having a relationship with a subordinate and stated these allegations were not the reason for his departure from L3Harris.
Following the news of Kubasik's departure, L3Harris's shares fell by approximately 3% to over 4%. The company appointed Sam Mehta as the new CEO and president and Lewis Hay III as independent chairman of the board. Despite the leadership change, analysts do not anticipate a significant lasting impact on the company's underlying businesses, noting that the conduct was unrelated to financial reporting or operational performance. L3Harris also reaffirmed its financial projections for 2026.
